market folly

In a 13G filed with the SEC last week, hedge fund Tontine Partners has disclosed their 6.16% stake in Myr Group (MYRG). This is a new position for them, as they previously did not show a stake in it as of June 30th in their most recent 13F filing. Jeffrey Gendell's Tontine Partners were -59.30% in September and are now -66.7% for the year. You can check out more hedge fund performance numbers that we've accumulated here. And, you can view the detailed list of Tontine Partners' portfolio holdings here.

Taken from Google Finance, MYR Group (MYRG) "is a specialty contractor serving the electrical infrastructure market in the United States. The Company is a national contractor, servicing the transmission and distribution (T&D) sector of the United States electric utility industry. It also provides commercial and industrial electrical contracting services in the western United States. Its T&D customers include more than 125 electric utilities, cooperatives and municipalities nationwide. Its range of services includes design, engineering, procurement, construction, upgrade, maintenance and repair services with a particular focus on construction, maintenance and repair throughout the continental United States."